Training plan key to wooing and retaining talent in job market

Reinsurance firm ZEP-RE in collaboration with College of Insurance last week launched a training institution for executives to equip them with technical skills in reinsurance management.

The training plan offers employees growth opportunities that will form a key element of marketing, by raising the organisation’s reputation as an employer.

Evidence shows that organisations that have developed an outstanding reputation as employers attract better talent and achieve a higher rate of job acceptance on offers, contributing to an overall better performance and sales growth.

In this, career advancement for employees is key, with 45 per cent of job seekers researching what programmes a company offers staff to promote career growth, according to research this year by US software company, iCIMS titled ‘Recruitment Marketing: Fad or Future?’

“The most important factors for job seekers are: compensation at 90 per cent, stability 88 per cent, benefits 86 per cent, work life balance 85 per cent, location 76 per cent, growth opportunities 72 per cent, company mission 56 per cent and company culture 53 per cent,” reported the researchers.

For ZEP-RE, the move to offer specialist training addresses a skills gap in the sector.

“Although the fundamentals of the insurance and reinsurance industry remain the same, the landscape is ever changing, with new risks that hitherto were not prevalent,” said chief executive Rajni Varia at the launch.

“Terrorism risk, for instance, has become an ever-present risk and therefore, we as an industry have to find ways of mitigating this risk for our clients.”

In doing so, ZEP-RE is positioning itself as an employer of choice, thus building its brand. According to the iCIMS research, 90 per cent of human resource professionals said having a strong employment brand is more important today than five years ago.

“A well-articulated employment brand helps job seekers understand if they are a good fit for the company. When combined with a compelling value proposition (why someone would want to work for you), an organisation can position itself as a sought-after employer of choice,” said the research.

This then delivers multiple commercial benefits. “As the company becomes more widely known as a good place to work an employer of choice will find that recruiting will be considerably easier.

“This attractiveness will save the organisation considerable expense in marketing and recruiting to attract the people that they want and need,” said Roger Herman and Joyce Goia, the authors of the book, How to Become the Employer of Choice.

“And the happier the employees are, the less turnover there will be. This reduced turnover will have a positive effect on the bottom line as well as the morale and dedication of each and every employee. This will result in stronger relationships and a greater dedication to the quality of performance, quality of production, and quality of service. This higher level of quality, as well as reducing re-work, scrap, and after-sale problems, will build profitability for the company and pride for the employees.”

In East Africa, Proctor & Gamble holds the title for the overall leading employer of choice, based on the East Africa Employer of Choice 2016 Awards held earlier this month.

It beat more than 500 private, public and nonprofit companies to win the award, which focused on leadership, fairness and equity, job satisfaction, learning and development, values and culture, performance and recognition, remuneration, and child care support.

“Proctor & Gamble is honoured to be recognised for our commitment to creating a stimulating work environment for all our employees, and ensuring that they feel valued and continually build on their skills and expertise,” said managing director Vivek Sunder.

“We believe that the interests of the individual and the interests of the company must be inseparable. People deliver the best for their company if they follow their passion.”

- AFRICAN LAUGHTER